In the wake of Japan’s horrific accident, the CEOs and business leaders on the COMPAS business panel were asked a far-ranging set of questions about consequences for the energy sector, Alberta, and economic forecasts. A virtual consensus emerges that

• The nuclear industry will be hurt, permanently in earthquake zones, and everywhere in the short-term until safety reviews are completed;
• The natural gas industry and Alberta will gain;
• Oil exploration in North America will expand.

Opinion is divided about whether the accident is bad news for new nuclear installations in the long-term, bad news for Candu given that risk-averse buyers may have more comfort with more experienced nuclear plant builders, or good news for the coal industry.

Panelists are not certain that the damage to the Japanese economy is big enough to change all fundamental forecasts for the world or Canadian economies.

The best news is that panellists do not believe that the magnitude of the damage will invigourate Al Qaeda to explore ways of attacking nuclear installations.

The weekly business survey is undertaken for Canadian Business magazine.

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